The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-09-22
CONDITION OFTHE MARKETS
Active Trading, with Old-Time Excite
ment. in Wheat, at Higher Figures.
Corn Weak and Oats Mfeless--A Sharp De-
cline in All Kinds of Hog Products,
with Considerable Unloading.
MONEY, BONDS ANN STOCKS.

a Lively Day the Stock Exchange with
Generally Higher Prices.
NEW YORK, Sept. 21-Money on call was
active, ranging from 3@6s per cent, the last
loan being at per cent, closing offered at 5
per cent
Prime mercantile paper. 7Rs per cent.
Sterling exchange is feverish and lower. ct
8l70484S0 for sixty days, and $4s404 s4i for
1emand.
The total sales OF stocks to-day were 495,352
shares. including: Canada Southern, 36O0,
Delaware, Lackawanna g. Western, $1,000;
Erie, 1855; Kansas g Texas, 5,995; Lake Shore.
1880; Louisville 6 Nashville. 16. 800; Missouri
Pacific, 1887; New Jersey Central, 3,9o5;
Northern Pacific, 1855; Northern Pacific pre-.
Rerred. 3.385; Ohio & Mississippi, 5000: Oregon
Transcon tinental, GIGS; Paciac Mall A. S55;
Reading, IA. 100; ST. Paul 55.0OO; st. Paul &
Pacific, $3.50; Western Union, 37,05O.
The stock market to-day was less active than
-on yesterday, bot was equally feyerish and
mess, and strength to weakness, or vice
The activity was most noticeable during the
weak spells in the forenoon, and, later in the
day, during strong periods. There was dispo-
Gition TO await the action of the Treasury. butt
In the absence OF liquidation. the bears attacked
the list again, with marked success. The weak
neEs was Intensified after the small amount of
funds offered became known, but n better feel
ing prevailed later. and the bulls assumed
command OK tn0 market 1lne general opinion
seemed TO be that the small offerings OF bonds
indicate that the governments as absorbed the
floating supply Of SHe four and-a-halfs, and will
have TO Uuy fours and SKIES in order
60 relieve the pressure upon the
moyIey market The announcement of
thE small offerings caused a rush to
veil by the bears. which. Notwithstanding the re-
eSistanca offered by the purchases for foreign &C
count, and the more influential traders.
forced prices down sharply for short time.
The oversold condition Of the market Is shown
hrv2 ne.f nnR 4hnrr cTt haa tive Ira lOan
~ premium for use, aud the bulls assert that
any attemptto cover tho outstanding shorts
would precipitste, "a rise OF 10 per cent The ac-
tIvity in Reading was very great, but ite In
tfiuence upon values was not creator than West
arm Union, New England or st. Paul There
were special favorites in the list. but all
were equal sharers in the movements of the day.
Under the influence Of moro hopeful feeling
and purchases by the foreigners, prices we're
1nat8Fially higher at the opening, advances rang
up to per cont The improvement was quickly
lost, however, the market being weak from the
opening, and in the first twenty minutes Mis-
souri Pacific lost II. and the others Lesser
amounts, though specially heavy losses
were sustained by some OF the epecialties The
market rallied and recovered most of the loss,
nut again became weak and active before noon
Rnd from TO Ii per cent was knocked off OF
values. with Western Union leading the Decline
though il was later displaced by New England.
The decline received an impetus after IL o'clock,
and the lowest figures generally were reached
by 1890, when u decidedly strong tone marked
ehe dealings, and prices rose rapidly until near
advance was resumed with force after delivery
hour, and the close was active and strong at the
best prices Of the day. Almost everything is
higher the only notable exceptions being
Wheeling & Lake Erie aud Oregon Improve
1nent, which are down and 70 per cent respect
lively. But Michigan Central 10 up 2; Colorado
Coal l2; Louisville 81 Nashville, Is; Hooking
Valley, "a; Hooking Coal, "a; Western Union, II.
Railroad bondo showed little moro ANNA
ton and sympathizsd with the movement in
stocks, bat they failed 70 respond fully TO the
dmprovenn0n1 of the afternoon. Sales, 1854, 900.
Almost everything is lower. and Buffalo. New
York g. Philadelphia trust certificates lost q,
at 394; Canada Southern seconds 2,at6 73; Chesa-
peake d. Ohio fours 3. st Ga; Rock leland
lcoupon SKIES p, at 1888; st. Paul. Lacrosse
division, sevens 2. at 115; Omaha consols 2, &C
lilo; Evansville 81 Terre Hause frsts 8, at liz;
Indiana, Bloomington 6 Western second certf-
Gates q at 20; Kentucky Central fours 2, at "a;
asichmond a. Allegheny receipts p, at 5G;
Shenandoah Valley SKIES 3, ut 81. St Louis
ARKANSAS & Texas seconds rose 3, to 81. and
Hooking Valley fves 3, to Oh
Government bonds were dull and steady.
State bonds were dull and rather heavy. The
closing quotations were: